Consumer Attitudes on Housing Continue Summer Season's Gradual Upward Trend; Americans' Overall Economic Sentiment Shows Marked Improvement, Some Areas Post Record Highs
Results from Fannie Mae’s September 2012 National Housing Survey show Americans’ optimism about the recovery of the housing market and with regard to homeownership continued its gradual climb, bolstered by a series of mortgage rate decreases experienced throughout the summer. Consumer attitudes about the economy also improved substantially last month, breaking the progression of waning confidence seen during much of this year.
“Consumers are showing increasing faith in the nascent housing recovery," said Doug Duncan, senior vice president and chief economist of Fannie Mae."Home price change expectations have remained positive for 11 straight months, and the share expecting home price declines has stabilized at a survey low of only 11 percent. Furthermore, the Federal Reserve's latest round of quantitative easing has caused a large drop in mortgage rate expectations. Friday's September jobs report, including the strong upward revisions for prior months, a sizable increase in earnings, and a sharp decline in the unemployment rate, should provide further impetus for improving consumer confidence in the housing market.”
Fannie Mae's monthly national consumer attitudinal survey report provides indicators offering a window into the opinions of Americans across the country. These behavioral insights convey what consumers think about the outlook for owning and renting a home and about their household finances, and may serve as key inputs for determining the future course of investment across housing types.
On this webpage you will find a news release with highlights from the survey results, the September 2012 Data Release highlighting 11 consumer attitudinal indicators, and a podcast containing highlights from this month’s survey.
Downloads and Related Links
September 2012 National Housing Survey Data Release (PDF)
Podcast – September National Housing Survey (.mp3)